Opportunity Finally Responds
Sometimes the market
provides an occasional gift if you happen to be in the right place at
the right time. And since much of the trading business is about working like
heck to be in the right place, including plodding through terribly paced months
like July trying to maintain both sanity and focus, we won’t look any gift
horses in the mouth. Such was the case this morning when shortly after the
market provided a nice low-risk three-minute pullback entry opportunity in a
13-minute uptrend. The Qs broke its three-day ceiling on a sudden $0.35 pop in
less than one minute. Fortunate? Perhaps a bit as luck is prevalent throughout
many of life’s threads. Yet sometimes being fortunate has as much to do with
working hard through three days of murky market chop (and yes, not trading in
this business is working hard) by continuing to position robotically on
decent-probability entries until opportunity finally responds to the knock.
Tuesday July
31, 2001 11:50 AM EDT
I’m pleased to
announce that I’ll be hosting a daylong
QQQ trading learning forum immediately following TM2001 at the Venetian
Hotel and Resort on October 8, 2001. It seems like we’ve struck a pleasant
nerve with the Q column, and I look forward to sharing my thoughts and views in
a live forum highly conducive to learning and interaction, as well as simply
meeting many of you in person. So whether you trade the Qs or watermelon
seeds, consider extending your stay just a bit and we’ll combine some very
intensive trading discussions and some fun!
Good Trading.
For
a more in-depth look at how Don trades the QQQs, click here.